Reporting Net Sales with Credit Sales, Sales Discounts, and Credit Card Sales The following transactions were selected from the records of Ocean View Company:

July 12 Sold merchandise to Customer R, who charge d the $3,000 purchase on his

Visa creditCard. Visa charges OceanView a 2 percent credit card fee.

15. Sold merchandise to Customer S at an invoice price of $9,000; terms 3/10, n/30.

20. Sold merchandise to Customer T at an invoice price of $4,000; terms 3/10, n/30.

23 Collected payment from Customer S from July 15sale.

Aug. 25 Collected payment from Customer T from July 20 sale.

Required:

Assuming that Sales Discounts und Credit Card Discount s arc treated as contra-

revenues. compute net sales for the two months ended August 31.

Neveready flashlights inc. needs $317,000 to take a cash discount of 3/15, net 70. a banker will loan the money for 55 days at an interest cost of $13,200. a. what is the effective rate on the bank loan? (use a 360-day year. do not round intermediate calculations. input your answer as a percent rounded to 2 decimal places.) b. how much would it cost (in percentage terms) if the firm did not take the cash discount but paid the bill in 70 days instead of 15 days? (use a 360-day year. do not round intermediate calculations. input your answer as a percent rounded to 2 decimal places.) c. should the firm borrow the money to take the discount? no yes d. if the banker requires a 20 percent compensating balance, how much must the firm borrow to end up with the $317,000? e-1. what would be the effective interest rate in part d if the interest charge for 55 days were $7,200?

In which job role will you be creating e-papers, newsletters, and periodicals?

Sue now has $125. how much would she have after 8 years if she leaves it invested at 8.5% with annual compounding? a. $205.83b. $216.67c. $228.07d. $240.08e. $252.08